TechFlow News: On April 7, according to CoinDesk, Bitcoin has traded sideways for two consecutive months, with price highs concentrated in the $72,000–$75,000 range and lows between $62,000–$65,000. A similar pattern occurred from November last year to January this year, ultimately culminating in a broad market decline. Therefore, a repeat of this scenario cannot be ruled out in the current market.
Regarding derivatives data, the market remains broadly in a consolidation phase. Bitcoin open interest (OI) has stabilized at approximately $16.7 billion—unchanged from last week—indicating steady speculative activity. Funding rates have returned to a neutral range of 0%–6%, following a prior negative funding rate environment that spurred short-covering rallies. Options market sentiment is stabilizing, with call options’ share rebounding to 47%; however, the front end of the implied volatility term structure remains inverted, signaling traders continue prioritizing hedging against near-term downside risk.
